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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InBMO Capital Markets has lowered its price target for T. Rowe Price Group (NASDAQ:TROW) to $104.00 from $110.00, while maintaining a "market perform" rating. This adjustment follows the asset manager's recent quarterly earnings report, which revealed earnings per share of $2.44, missing consensus estimates by $0.03. Despite the EPS miss, the company reported a 6% year-over-year increase in revenue, reaching $1.93 billion. The decision by BMO aligns with similar actions taken by other prominent firms, including Evercore, Morgan Stanley, JPMorgan, and Goldman Sachs, which have also recently reduced their price targets for TROW shares. This trend reflects a cautious outlook among analysts regarding the company's near-term performance.